GSX Techedu Inc. (GSX) Misses Q3 EPS by 26c

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Go back to GSX Techedu Inc. (GSX) Misses Q3 EPS by 26c

GSX Announces Third Quarter 2020 Unaudited Financial Results

November 20, 2020 12:00 AM EST

BEIJING, Nov. 20, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today announced its unaudited financial results for the third quarter ended September 30, 2020.

Third Quarter 2020 Highlights[1]

Net revenues was RMB1,965.8 million, a 252.9% year-over-year increase.-  Net revenues of online K-12 courses increased 282.7% year-over-year to RMB1,757.2 million. Gross billings[2] was RMB2,086.2 million, a 137.1% year-over-year increase.-  Gross billings of online K-12 courses increased 140.8% year-over-year to RMB1,793.5 million. Paid course... More